BIS 8.2: Customer Relationship Management

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define sales management CRM systems

automate each phase of the sales process, helping sales reps coordinate/organize their accounts

define sales force automation (SFA)

automatically tracks all the steps in a sales process - SFA products focus on increasing customer satisfaction, building customer relationships and improving product sales

define list generator

compiles customer information form a variety of sources and segments it for different marketing campaigns -data from website visits, questionnaires, surveys, etc.

define contact center

customer service reps answer customer inqueries

define web-based self-service

customers use the web to find answers/solutions -click to talk = click a button and talk with a rep over the internet

define customer segmentation

divides a market into categories that share similar attributes ex: age/gender/etc.

define call scripting

gather product details and issue resolution information that can be automatically generated into a script for the rep to read to the customer

define campaign management

guides users through marketing campaigns by performing tasks like campaign definition/planning/scheduling/segmentation/success analyses

define production and materials management core ERP component

handle production planning and execution of tasks like demand forecasting, etc.

define up-selling

increasing the value of a sale ex: supersizing

define contact management CRM systems

maintain customer contact information and identifies prospective customers for future sales w/ tools like organizational charts/ customer notes/support sales information

define accounting/finance core ERP component

manage accounting data and financial processes -one of most useful features = credit management

define balances scorecard

management system a firm uses to translate business strategies into executable tables -4 perspectives to monitor the organization: 1. learning/growth 2. internal business processes 3. customer 4. financial

define elogistics

manages transport and storage of goods

define CRM

means of managing a customer's relationship with the organization to increase customer loyalty and retention -allows insights into shopping/buying behaviors

what must an ERP support?

mobility, cloud, Saas ERP areas

define software customization

modifies existing software according to business requirements ex: business processes/workflows; code modifications; integrations; reports/docs/forms; user-interface challenges

define customer service and support

part of operational CRM that automates service requests/complaints/product returns and information requests

define cross-selling

selling additional products/services to an existing customer ex: Amazon recommended buys

define opportunity management CRM systems

target sales opportunities by finding new customers or companies for future sales

define core ERP components and give the 3

traditional components included in most ERP systems and are primarily focused on internal operations 1. accounting/finance 2. production and materials management 3. HR

define analytical CRM

uses BI to identify patterns in sales and customer behavior

define website personalization

when a website has stored enough data about a person's likes and dislikes to fashion more appealing offers

what do organizations need to track?

-how recently/ frequently a customer purchased items -monetary value of customer purchase

define enterprise resource planning (ERP)

-integrates all departments and functions throughout the organization into a single IT system so employees can make decisions by viewing enterprise information about all business operations

define analytical CRM strategies

-supports back-of-office operations and strategic analysis -all systems not dealing directly with customers

define operational CRM strategies

-supports traditional transaction processing for day-to-day front-office operations -systems dealing directly with the customers

define HR core ERP component

-tracks employee information -provides employee analysis

define 2-tier ERP architecture

allows an organization to have an on-premises ERP system along w/ a cloud ERP application

give and describe the 3 types of contact center services

1. automatic call distribution -routes inbound calls to available agents 2. interactive voice response -directs customers to touch-tone phones or keywords to navigate/provide information 3. predictive dialing -automatically dials outbound calls and forwards answered calls to available agents

give the 3 primary CRM technologies for customer service

1. contact center 2. web-based self-service 3. call scripting

give the 3 CRM metrics

1. customer service 2. sales 3. marketing

give the 3 primary operational CRM technologies

1. list generator 2. campaign management 3. cross-selling and up-selling

what are the 2 primary components of a CRM strategy?

1. operational 2. analytical

give the 3 phases of evolution of CRM

1. reporting -help identify customers across other applications -asks: what happened? 2. analyzing -help segment customers into categories -asks: why did it happen? 3. predicting -help predict customer behavior -asks: what will happen?

give the 3 primary operational CRM technologies for sales departments

1. sales management CRM systems 2. contact management CRM systems 3. opportunity management CRM systems

give the 3 components of extending CRM

1. supplier relationship management -keeps suppliers satisfies by evaluating/categorizing them for projects 2. partner relationship management -discovers optimal sales channels through the right partners 3. employee relationship management -provides web-based self-service tools that streamline and automate HR

give the 4 extended ERP components

Bi, CRM, SCM, ebusiness

define eprocurement

B2B online purchasing and sales of supplies and services

define uplift modeling

a form of predictive analysis for marketing campaigns that attempts to identify target markets


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